Tag Archives: Singapore

Singapore is often depicted as an authoritarian dictatorship come economic paradise. Conservatives like to fantasise about Singapore, seeing it as the prime example of a small state, low-tax, low-regulation economy that they would like to emulate.

But Singapore’s success has been driven by an idea that is antithetical to the Conservative mind: that the state can be as efficient and effective as the market.

Singapore is not the neoliberal paradise it has been heralded as below are four policy areas we could learn from: –

A sovereign wealth fund to accompany fiscal policy: the Singaporean state asserts its primacy in the island-state’s economy. Compulsory purchase-orders are common; the state frequently buys private turf for the public good. Singapore has built one of the world’s richest sovereign wealth funds, Temasek, which is accountable to Singapore’s Ministry of Finance. It helps to finance the state’s long-term infrastructure projects and, in many ways, resembles the UK’s Green Investment Bank, which the Conservatives sold off in 2015.

You may have seen images in the news of Indonesia with blood red skies and mired in choking smoke, looking more like Mars than on earth.

Runaway forest fires in Indonesia has been a recurring problem, and the cause of the “haze” in Singapore and Malaysia, depending on which way the wind blows. The fires can rage on for days and weeks in the carbon-rich peat forests, and has so far affected an estimated 69 million people in the region. We can’t even begin to count the cost to the wildlife.